life assurance


life assurance
An insurance policy that pays a specified amount of money on the death of the life assured or, in the case of an endowment assurance policy, on the death of the life assured or at the end of an agreed period, whichever is the earlier. Life assurance grew from a humble means of providing funeral expenses to a means of saving for oneself or one's dependants, with certain tax advantages. With-profits policies provide sums of money in excess of the sum assured by the addition of bonuses Unit-linked policies invest the premiums in funds of assets, by means of buying units in the funds. See also whole life policy

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  • life assurance — ➔ assurance * * * life assurance UK US noun [U] UK INSURANCE ► LIFE INSURANCE(Cf. ↑life insurance) …   Financial and business terms

  • life assurance — or insurance a contractual arrangement under which, in return for a stipulated premium, a life assurance company undertakes to pay, on the death of the life assured or on the occurrence of such other events as may be agreed, a specified sum of… …   Law dictionary

  • Life assurance — Life Life (l[imac]f), n.; pl. {Lives} (l[imac]vz). [AS. l[imac]f; akin to D. lijf body, G. leib body, MHG. l[imac]p life, body, OHG. l[imac]b life, Icel. l[imac]f, life, body, Sw. lif, Dan. liv, and E. live, v. [root]119. See {Live}, and cf.… …   The Collaborative International Dictionary of English

  • life assurance — noun insurance paid to named beneficiaries when the insured person dies in England they call life insurance life assurance • Syn: ↑life insurance • Hypernyms: ↑insurance • Hyponyms: ↑endowment insurance, ↑tontine, ↑ …   Useful english dictionary

  • life assurance — N UNCOUNT Life assurance is the same as life insurance. [BRIT] ...a life assurance policy …   English dictionary

  • life assurance — An insurance policy that pays a specified amount of money on the death of the life assured or, in the case of an endowment assurance policy, on the death of the life assured or at the end of an agreed period, whichever is the earlier. Life… …   Accounting dictionary

  • life assurance — noun Life assurance is used before these nouns: ↑policy …   Collocations dictionary

  • life assurance — gyvybės draudimas statusas Aprobuotas sritis draudimo veikla apibrėžtis Turtinių interesų, susijusių su fizinio asmens gyvybe ir (ar) kapitalo kaupimu, draudimas, kai dėl apdraustojo mirties, kitokio draudžiamojo įvykio arba draudimo sutartyje… …   Lithuanian dictionary (lietuvių žodynas)

  • life assurance — life as.surance n [U] BrE ↑life insurance …   Dictionary of contemporary English

  • life assurance — noun Brit. another term for life insurance …   English new terms dictionary